Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio. The Water Handling segment delivers fresh water; and offers pumping stations, water storage, and blending facilities. The company was incorporated in 2013 and is headquartered in Denver, Colorado.
Analyst Upgrades and Downgrades
Several research firms have issued reports on AM. Barclays dropped their price target on shares of Antero Midstream from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 20th. TheStreet lowered shares of Antero Midstream from a "b-" rating to a "c" rating in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company raised shares of Antero Midstream from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $12.00 to $13.00 in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of "Hold" and an average target price of $11.00.
Antero Midstream Stock Performance
Shares of AM traded down $0.09 during trading hours on Wednesday, hitting $10.32. The company had a trading volume of 1,350,266 shares, compared to its average volume of 3,726,943. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 14.96 and a beta of 2.60. The business has a fifty day moving average of $9.68 and a 200-day moving average of $10.17. Antero Midstream has a 12 month low of $8.42 and a 12 month high of $11.71. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.42.
Antero Midstream (NYSE:AM - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The pipeline company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $228.91 million during the quarter, compared to the consensus estimate of $238.28 million. Antero Midstream had a net margin of 36.84% and a return on equity of 17.01%. Antero Midstream's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Equities analysts anticipate that Antero Midstream will post 0.77 EPS for the current fiscal year.
Antero Midstream Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 10th. Stockholders of record on Wednesday, July 27th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 8.72%. The ex-dividend date was Tuesday, July 26th. Antero Midstream's payout ratio is presently 130.44%.
Insider Activity
In other news, Director W Howard Keenan, Jr. sold 250,996 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $10.31, for a total value of $2,587,768.76. Following the transaction, the director now directly owns 213,081 shares of the company's stock, valued at $2,196,865.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director W Howard Keenan, Jr. sold 250,996 shares of the firm's stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $10.31, for a total transaction of $2,587,768.76. Following the transaction, the director now directly owns 213,081 shares of the company's stock, valued at $2,196,865.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director W Howard Keenan, Jr. sold 68,502 shares of the firm's stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $10.19, for a total transaction of $698,035.38. Following the transaction, the director now directly owns 311,778 shares in the company, valued at $3,177,017.82. The disclosure for this sale can be found here. Insiders have sold 562,366 shares of company stock valued at $5,833,489 over the last ninety days. 0.80% of the stock is currently owned by company insiders.